BP has been charged with manipulating prices in the propane market. The charges allege that BP purchased large quantities of propane and then withheld it to drive up prices. A company employee is cooperating in the investigation and the company says that it did nothing wrong but that several employees did not follow company rules and were terminated. The oil industry is worried that people will look at this one item and say that all oil companies are manipulating prices. They are right because the left will go nuts and use this as proof positive. Chuck Schumer showed his stupidity when he said:
Senator Charles E. Schumer (D-N.Y.) said that “if these charges are true, it shows the worst of big oil … consumers deserve free markets that reflect true prices.”
I agree that consumers deserve a free market so I have to ask if Schumer feels that way why is he and others in Congress trying to regulate the prices of oil companies? Ever since gas prices rose, Schumer and his buddies have cried and called for more government oversight. How are the windfall profit taxes that they politicians want to impose supposed to give us the free market that we deserve?
For that matter, why does the government pay farmers not to grow produce? That is a program designed to keep produce at levels which will bring in higher prices. If we deserve free markets, why does the government subsidize the farm industry? Schumer seems to have forgotten his and everyone else’s outrage at rising fuel prices and the calls for government regulation. The government regulates the prices of many items on the market and when prices of other things go up the government tries to reduce them by artificial means. How does any of this other intervention give people the free market they deserve?
No wonder Chuck Schumer was elected as Jackass of the Month in the past. He might be up for nomination in the future. Speaking of which, only 2 more days to vote for this month’s JOTM. Murtha has a commanding lead but don’t let that stop you from voting.
Source: Yahoo News